Ratan Tata’s 10 rules for success

Ratan Tata is an Indian businessman, investor, philanthropist and chairman Emeritus of Tata Sons. He was the chairman of Tata Group, a Mumbai-based conglomerate from 1991–2012. In 2014-15, the revenue of Tata companies, taken together, was $108.78 billion. He began his career in the Tata group in 1961. He initially started on the shop floor of Tata Steel, shovelling limestone and handling the blast furnace.He was instrumental in the development of Tata Nano, largely dubbed as the world’s cheapest passenger car.He is currently the chairman Emeritus of Tata Sons. He continues to serve as the chairman of the main two Tata trusts which hold 66% of shares in the group holding company Tata Sons.

Here are his top 10 rules for success:

1. Communicate with your employees

He began his schooling in Mumbai at the Campion School and finished his secondary education at the Cathedral and John Connon School.

2. Take chances

He completed his B.S. in architecture with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975.

3. Persevere

He began his career in the Tata group in 1961. He initially started on the shop floor of Tata Steel, shovelling limestone and handling the blast furnace.

4. Build trust

In 1991, J. R. D. Tata stepped down as Chairman of Tata Sons, naming Ratan as his successor.

5. Be humble

Under his stewardship, Tata Tea acquired Tetley, Tata Motors acquired Jaguar Land Rover and Tata Steel acquired Corus, which have turned Tata from a largely India-centric company into a global business, with 65% revenues coming from abroad.

6. Have heroes

He was instrumental in the development of Tata Nano, largely dubbed as the world’s cheapest passenger car.

7. Be yourself

He retired from all executive responsibility in the Tata group on 28 December 2012, his 75th birthday, and he was succeeded by Cyrus Mistry.

8. Make a difference

He has retired but he is still seen working. Recently, he invested his personal savings in Snapdeal- one of India’s leading e-commerce website.

9. Be motivated by competition

He is currently the chairman Emeritus of Tata Sons. He continues to serve as the chairman of the main two Tata trusts which hold 66% of shares in the group holding company Tata Sons.

10. Do what can’t be done

He is on the jury panel of Pritzker Architecture Prize – considered to be one of the world’s premier architecture prizes.

Here are some thought provoking Quotes from him:

Do not complain:

“I am, tragically, a man who has frequently said: You put a weapon to my head and draw the trigger or take the firearm away, I won’t move my head.”

On effective individuals:

“I respect individuals who are extremely fruitful. In any case, if that achievement has been accomplished through an excessive amount of mercilessness, then I may appreciate that individual, yet I can’t regard him.”

On initiative:

“It is anything but difficult to end up a number one player, however it is hard to stay number one. Along these lines, we will need to battle with a perspective to stay number one.”

Need to prepare to stun the world:

“We have been. . . thinking little. Furthermore, in the event that we check out us, nations like China have developed such a great amount by preparing to stun the world. I would encourage that we all, in the coming years, plan for an impressive future, consider doing things not in little additions, not in little deltas, but rather apparently incomprehensible things. Be that as it may, nothing is unthinkable in the event that you truly set out to do as such. Furthermore, we act strongly. Since it is this reasoning huge and acting strongly that will move India up in a way not the same as where it is today.”

On Risk:

“Risk is an essential piece of business logic. You can be hazard unwilling and go out on a limb, in which case you will have a sure direction as far as your development. On the other hand you can, while being reasonable, take more serious danger with a specific end goal to become quicker.”

On danger:

“I view hazard as a capacity to be the place nobody has been some time recently. I view danger to be an issue of preparing to stun the world, something we didn’t do beforehand. We did everything in little augmentations so we generally lingered behind. Be that as it may, the essential inquiry is: would we be able to wander putting a man on the moon or hazard billions of rupees on a truly way-out, cutting edge venture in, say, superconductors? Do you confine your danger to something near your heart?”